Gap to shut 230 stores over 2 years, posts mixed holiday results
div > div.group > p:first-child"> The retailer said it plans to split into two independent publicly traded companies, Old Navy and a yet-to-be named company, which will include its Gap brand, Athleta, Banana Republic, Intermix and Hill City.
The announcement came as the company reported disappointing sales for the holiday quarter. Its earnings, however, topped estimates. In the fiscal fourth quarter ended Feb. 2, Gap said net income rose to $276 million, or 72 cents a share, from $205 million, or 52 cents a share, a year ago. Profits were higher than the 68 cents a share, analysts surveyed by Refinitiv were expecting.
The company's sales fell to $4.62 billion from $4.78 billion a year ago. However, it was higher than the $4.69 billion analysts expected.This is a developing story. Please check back for updates.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Gap will shutter 230 stores as sales plungeGap announced plans Thursday to shutter 230 Gap stores over the next two years as sales plunge at its namesake brand.
Consulte Mais informação »
Gap is splitting into two companies: Old Navy and everything elseGap Inc. will spin off its better-performing Old Navy brand into a separate public company. Its stock leaped as much as 23%.
Consulte Mais informação »
Gap to split itself, restructure Gap brand; stock jumps
Consulte Mais informação »
Old Navy splits off from GapGap Inc announced plans Thursday to create two independent publicly traded companies.
Consulte Mais informação »
Gap to Split Into Two Publicly Traded CompaniesGap announced plans Thursday to split itself into two independent publicly traded companies—one unnamed company consisting of the iconic Gap brand, and Old Navy.
Consulte Mais informação »
Old Navy and Gap are splitting into two companies. We visited both stores, and realized why one company is dominating the other.Gap is splitting off Old Navy into its own company. In late 2018 we shopped at both stores and saw why Old Navy has become so successful.
Consulte Mais informação »
Gap is soaring after announcing it's spinning off Old NavyGap shares surged late Thursday after the retailer announced it was spinning off its Old Navy unit.
Consulte Mais informação »
Gap Inc.Gap Inc. stock price, stock quotes and financial overviews from MarketWatch.
Consulte Mais informação »
Gap will split into two publicly traded companies, with Old Navy as a stand-alone; stock surges
Consulte Mais informação »